Business Formations Within Eight Quarters: Total for All NAICS in Midwest Census Region
BFBF8QTOTALNSAMW • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,517.00
Year-over-Year Change
11.72%
Date Range
7/1/2004 - 12/1/2020
Summary
The 'Business Formations Within Eight Quarters: Total for All NAICS in Midwest Census Region' tracks the number of new business applications filed in the Midwest region over an 8-quarter period. This metric provides insights into entrepreneurial activity and economic dynamism in the region.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This data series, published by the U.S. Census Bureau, measures the total number of new business applications across all industry sectors (NAICS codes) in the Midwest Census region. It offers a timely indicator of business formation and startup trends, which are important factors in assessing regional economic conditions and growth prospects.
Methodology
The data is collected through business registration filings with state and local authorities.
Historical Context
This metric is closely monitored by policymakers, economists, and investors to gauge the health and trajectory of the Midwest economy.
Key Facts
- The Midwest region includes 12 states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
- Business formations reached a record high in the Midwest during the COVID-19 pandemic in 2020.
- Trends in new business applications can signal shifts in economic sentiment and future employment growth.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total number of new business applications filed across all industry sectors (NAICS codes) in the Midwest Census region over an 8-quarter period.
Q: Why is this trend relevant for users or analysts?
A: Monitoring business formation trends in the Midwest provides valuable insights into entrepreneurial activity, economic dynamism, and the overall health of the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through business registration filings with state and local authorities.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor this metric to gauge the trajectory of the Midwest economy and inform decision-making.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a slight delay to allow for processing of the latest business registration filings.
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Citation
U.S. Census Bureau, Business Formations Within Eight Quarters: Total for All NAICS in Midwest Census Region (BFBF8QTOTALNSAMW), retrieved from FRED.